Treasury Secretary Steven Mnuchin discusses details for economic relief during the daily coronavirus response briefing as Small Business (SBA) Administrator Jovita Carranza listens at the White House in Washington, U.S., April 2, 2020.
Tom Brenner | Reuters
This is breaking news. Please check back for updates.
Treasury Secretary Steven Mnuchin told CNBC on Wednesday that small businesses throughout the U.S. should not worry about their odds of receiving relief funding from the federal government.
Asked by CNBC’s Jim Cramer about the White House’s work with the Small Business Administration, Mnuchin said he’s confident Congress will approve additional funding on top of the original $350 billion already being distributed.
“Jim, we’re raising over $2 trillion for our COVID relief. We’re raising it all across the curve and we have tremendous demand for U.S. Treasurys,” Mnuchin said. “Everybody wants to buy U.S. Treasurys: It’s the safe haven.”
“I want to assure all small businesses out there: We will not run out of money. The president has asked us to go back to Congress. We hope they pass this tomorrow and Friday,” he added. “And we want to assure everybody if you don’t get a loan this week, you’ll get a loan next week or the following week. The money will be there.”
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.